Magna International (NYSE:MGA) Price Target Raised to $52.00 at Scotiabank

Magna International (NYSE:MGA) (TSE:MG) had its price target raised by Scotiabank from $50.00 to $52.00 in a research report report published on Monday, Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other research analysts also recently weighed in on MGA. Wells Fargo & Company upped their target price on shares of Magna International from $44.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday. Royal Bank of Canada dropped their price objective on Magna International from $47.00 to $42.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 29th. UBS Group decreased their target price on Magna International from $51.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Wolfe Research restated an “underperform” rating on shares of Magna International in a research note on Thursday, September 5th. Finally, Raymond James reduced their price objective on shares of Magna International from $57.00 to $53.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $49.76.

Magna International Stock Performance

MGA traded up $0.28 during midday trading on Monday, reaching $42.42. The company had a trading volume of 324,256 shares, compared to its average volume of 1,583,012. The business has a 50-day moving average of $41.33 and a two-hundred day moving average of $43.07. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.40. Magna International has a 1 year low of $38.01 and a 1 year high of $60.32. The company has a market cap of $12.19 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.67 and a beta of 1.59.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, November 1st. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.20). Magna International had a return on equity of 12.03% and a net margin of 2.52%. The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same period in the prior year, the company posted $1.46 earnings per share. The company’s revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Magna International will post 5.4 earnings per share for the current fiscal year.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.475 per share. The ex-dividend date is Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 4.48%. Magna International’s payout ratio is currently 50.80%.

Institutional Investors Weigh In On Magna International

Several institutional investors have recently modified their holdings of MGA. Kennebec Savings Bank purchased a new stake in Magna International during the 3rd quarter valued at $32,000. Van ECK Associates Corp increased its position in Magna International by 6.6% during the third quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock valued at $517,000 after acquiring an additional 766 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Magna International by 11.4% in the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock valued at $8,644,000 after acquiring an additional 21,532 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of Magna International in the 3rd quarter worth about $216,000. Finally, Forsta AP Fonden boosted its stake in shares of Magna International by 20.3% during the 3rd quarter. Forsta AP Fonden now owns 84,300 shares of the company’s stock worth $3,462,000 after purchasing an additional 14,200 shares during the period. 67.49% of the stock is owned by institutional investors.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.